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2020 ] COMPLIANCE NEEDS FOR IMPORTANT CHANGES MADE UNDER GST LAW J47

COMPLIANCE NEEDS FOR IMPORTANT
CHANGES MADE UNDER GST LAW
By
Ramesh Chandra Jena, B.A. (Hons.), M.A. (Eco.),
D.M.M., LL.B.
MANAGING PARTNER, TAXPAYERS ADVISORY SOLUTIONS

Change is inevitable in our life for improvement
and growth for happy living and the similar principle has
been happened to tax system in the country. GST has
been implemented in the country as simple tax system with objective of trans-
parency and ease of doing business. GST regime has been completed more than
two and half years, several key decisions have been taken by the GST Council for
improvement and make GST system friendly with taxpayers.
With the recommendations of GST Council, the Government has made
major amendments to GST law and procedural changes to simplify the tax sys-
tem with new methods such as E-way bill, e-invoicing, and measures for control-
ling of tax evasion, single authority for sanction of refund, simplification of GST
returns and control wrong availment of ITC by the taxpayers. The author has
made an attempt to highlights the changes made in GST law and procedures,
which needs timely compliance by the taxpayers for the following provisions :
(1) E-Invoicing for certain category of registered person : Every regis-
tered person whose aggregate turnover (including exempt supplies
and exports clearances) on PAN India basis exceeds ` 100 crores in a
financial year, shall mandatorily generate e-invoices in the case of
B2B supplies. Registered person has to generate Invoice Reference
Number (IRN) in the notified common portals of GST and the same
IRN shall be incorporated in the e-invoice. For which specific in-
voice format has been designed shall be adopted by the registered
person in his software. No e-invoice shall be valid unless bears IRN.
E-invoicing is mandatory w.e.f. from 1st April, 2020 (Notification
No. 70/2019-C.T., dated 13-12-2019).
(2) QR Codes for B2C supplies : Quick Response Code (QR Code)
shall be mandatory in the case where invoice is issued by a regis-
tered person, whose aggregate turnover in a financial year exceeds
` 500 crore, to an unregistered person (B2C invoice). However,
where such registered person makes a Dynamic QR Code available
to the recipient through a digital display, such B2C invoice issued
by such registered person containing cross-reference of the payment
using a Dynamic QR Code, shall be deemed to be having QR Code.
This is mandatory w.e.f. 1st April, 2020 (Notification No. 71/2019-
C.T. and Notification No. 72/2019-C.T., both dated 13-12-2019).
(3) Blocking of generation of E-way Bill : Rule 138E of CGST Rules
has been amended to make it mandatory w.e.f. 11th January, 2020,
E-way Bill generation discontinued for non-filing of GSTR-1 for two
GST LAW TIMES  16th April 2020  147